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March 4, 2024 

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ENTRY BARRIERS: Institutional, government, technological, or economic restrictions on the entry of firms into a market or industry. The four primary barriers to entry are: resource ownership, patents and copyrights, government restrictions, and start-up costs. Barriers to entry are a key reason for market control and the inefficiency that this generates. In particular, monopoly, oligopoly, monopsony, and oligopsony often owe their market control to assorted barriers to entry. By way of contrast, perfect competition, monopolistic competition, and monopsonistic competition have few if any barriers to entry and thus little or no market control.

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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

     See also | loan | bank | budget | asset | interest rate |


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EXPLICIT LOGROLLING

The straightforward, unambigous trading of votes to ensure a favorable outcome for two or more separate decisions. Commonly practiced in legislative bodies, explicit logrolling occurs when each of two voters agree to cast separate votes for two separate programs. The contrast is with implicit logrolling in which two separate programs or policies are combined into a single package, which is then subject to a single vote. Whether explicit or implicit, logrolling is generally used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for small children selling products door-to-door.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses."

-- Johannes Kepler, German Astronomer

AR(N)
A nth-order Autoregressive Process
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